HB 1021 Summary

• Eliminates the $143,160 assessed value cap that previously disqualified disabled veterans from claiming a property tax deduction.

• Allows veterans with a total disability or those at least 62 years old with at least 10% disability to claim a $12,480 deduction from assessed property value without property value restrictions.

• Permits surviving spouses of qualifying veterans to receive the same deduction if the veteran would have qualified.

• Effective July 1, 2012.